Ming Yan Sells 20,000 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) Stock

Cytek Biosciences, Inc. (NASDAQ:CTKB) CTO Ming Yan sold 20,000 shares of Cytek Biosciences stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $5.87, for a total transaction of $117,400.00. Following the sale, the chief technology officer now owns 5,988,502 shares of the company’s stock, valued at $35,152,506.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ming Yan also recently made the following trade(s):

• On Tuesday, April 9th, Ming Yan sold 1,900 shares of Cytek Biosciences stock. The stock was sold at an average price of $7.00, for a total transaction of $13,300.00.
• On Monday, March 18th, Ming Yan sold 20,000 shares of Cytek Biosciences stock. The stock was sold at an average price of $6.77, for a total transaction of $135,400.00.

Cytek Biosciences Stock Performance

CTKB opened at $5.66 on Thursday. The company’s 50 day simple moving average is $7.07 and its 200 day simple moving average is $7.08. Cytek Biosciences, Inc. has a 1 year low of $3.80 and a 1 year high of $12.31. The stock has a market capitalization of $740.44 million, a PE ratio of -62.88 and a beta of 1.37.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings results on Wednesday, March 13th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $58.23 million for the quarter, compared to analysts’ expectations of $56.66 million. Cytek Biosciences had a negative net margin of 6.29% and a negative return on equity of 1.40%. As a group, sell-side analysts expect that Cytek Biosciences, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTKB. SG Americas Securities LLC lifted its position in Cytek Biosciences by 34.9% during the third quarter. SG Americas Securities LLC now owns 188,813 shares of the company’s stock valued at $1,042,000 after buying an additional 48,816 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Cytek Biosciences by 17.7% during the third quarter. State of Alaska Department of Revenue now owns 61,969 shares of the company’s stock valued at $342,000 after buying an additional 9,302 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Cytek Biosciences during the third quarter valued at approximately $88,000. Maryland State Retirement & Pension System lifted its position in Cytek Biosciences by 17.6% during the third quarter. Maryland State Retirement & Pension System now owns 36,661 shares of the company’s stock valued at $202,000 after buying an additional 5,476 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Cytek Biosciences by 8.6% during the third quarter. Bank of New York Mellon Corp now owns 825,580 shares of the company’s stock worth $4,557,000 after purchasing an additional 65,551 shares in the last quarter. 69.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of Cytek Biosciences from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 6th. The Goldman Sachs Group raised their target price on shares of Cytek Biosciences from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.00.

About Cytek Biosciences

Cytek Biosciences, Inc, a cell analysis solutions company, provides cell analysis tools that facilitates scientific advances in biomedical research and clinical applications. It offers aurora and northern lights systems, which are spectrum flow cytometers that delivers cell analysis by utilizing the fluorescence signatures from multiple lasers to distinguish fluorescent tags on single cells; and aurora cell sorter system that leverages full spectrum profiling technology to further broaden potential applications across cell analysis; aurora CS systems; amnis imagestream imaging flow cytometers; guava muse cell analyzers; guava easycyte flow cytometers; and orion reagent cocktail preparation systems.